Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Carrying Amount of Goodwill

The changes in the carrying amount of goodwill as allocated to our business segments, or reporting units thereof, for goodwill impairment analysis were:

	Business Segment / Reporting Unit*
	Wealth Management		Consumer Lending		Commercial Lending		Investment Management		Total
	(in thousands)
Balance at December 31, 2013	$	20,517	$	128,451	$	174,763	$	104,503	$	428,234
Goodwill from business combinations	—		40,471		78,137		29,050		147,658
Balance at December 31, 2014	$	20,517	$	168,922	$	252,900	$	133,553	$	575,892
Goodwill from business combinations	—		30,197		61,360		18,890		110,447
Balance at December 31, 2015	$	20,517	$	199,119	$	314,260	$	152,443	$	686,339

* Valley’s Wealth Management Division is comprised of trust, asset management and insurance services. This reporting unit is included in the Consumer Lending segment for financial reporting purposes.

Other Intangible Assets

The following tables summarize other intangible assets as of December 31, 2015 and 2014:

	Gross Intangible Assets		Accumulated Amortization			Valuation Allowance			Net Intangible Assets
	(in thousands)
December 31, 2015
Loan servicing rights	$	75,932	$	(59,251	)	$	(289	)	$	16,392
Core deposits	62,714		(31,934		)	—			30,780
Other	4,374		(2,664		)	—			1,710
Total other intangible assets	$	143,020	$	(93,849	)	$	(289	)	$	48,882
December 31, 2014
Loan servicing rights	$	72,154	$	(51,708	)	$	(592	)	$	19,854
Core deposits	46,694		(29,916		)	—			16,778
Other	4,591		(2,448		)	—			2,143
Total other intangible assets	$	123,439	$	(84,072	)	$	(592	)	$	38,775

Schedule of Change in Loan Servicing Rights

The following table summarizes the change in loan servicing rights during the years ended December 31, 2015, 2014 and 2013:

	2015			2014			2013
	(in thousands)
Loan servicing rights
Balance at beginning of year	$	20,446		$	26,068		$	19,984
Origination of loan servicing rights	1,696			1,065			13,265
Amortization expense	(5,461		)	(6,687		)	(7,181		)
Balance at end of year	$	16,681		$	20,446		$	26,068
Valuation allowance
Balance at beginning of year	$	(592	)	$	(504	)	$	(3,046	)
Impairment adjustment	303			(88		)	2,542
Balance at end of year	$	(289	)	$	(592	)	$	(504	)
Balance at end of year, net of valuation allowance	$	16,392		$	19,854		$	25,564

Estimated Future Amortization Expense

The following table presents the estimated amortization expense of other intangible assets over the next five-year period:

Year	Loan Servicing Rights		Core Deposits		Other
	(in thousands)
2016	$	4,442	$	5,845	$	233
2017	3,502		5,024		220
2018	2,687		4,379		193
2019	1,988		3,816		181
2020	1,483		3,253		170